MOSCOW, RUSSIA — The National Association of Exporters of Agricultural Products (NAESP) announced that it has applied to the Government of Russia to postpone imposition of the customs duties on grain exports until March 1, 2015. The reporting proposal was sent to Vice-Prime Minister of the Russian Federation Arkady Dvorkovich on Dec. 22.
It has been reported that Dvorkovich told a government meeting on Dec. 22 that a resolution on grain export duties was being drawn up. Following the decline in the value of the rouble, grain exports have been selling grain to acquire foreign currency. This has increased fears that Russia’s domestic grain and feed markets will be destabilized.
According to the NAESP, delaying of the duties imposition will allow to exporters to fulfill all their obligations under the existing contracts, and enable all market participants to prepare for work in the new conditions.
Also, the NAESP noted that imposition of the duties is not contrary to the WTO rules, and such measures would allow providing the further stabilization of the market segment "as soon as possible."